January – Research & performance reporting

As a Research Lab, Bramham Gardens concentrates on building investment strategies based on Artificial Intelligence.

Looking at the long strategies
The year started on a positive note. As the ramp up of the long strategies took place gradually over the first 10 trading days of the year, the long strategies undershot the SP500 this month for technical reasons: the SP500 made two thirds of its performance during this ramp-up period.

Of course, because Bramham Gardens is a research firm, we do not account for transaction costs and slippage. With about 10 rotations per year in the portfolio and as we work on a liquid and cost effective market like the US large cap universe, costs would however remain around 0.5% per year. This would typically be compensated by the fact that results are reported as log-returns.

Price based – ex dividends SP500 Long – cash hedged Long – no hedge
January 1.77% 1.17% 1.17%

A steady long-short
The long-short went through a reasonably smooth ride over the month of January.

Long-Short Price based
January 0.64%

Partnership news
As was already mentioned in the November and December 2016 Bramham Gardens Research Reports, Boussard & Gavaudan, the well-recognized asset management firm, is currently launching a UCITS Sicav fund, which follows our long-short US strategy.

We are available to discuss with you our work : contact@bramham-gardens.com